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That just takes a crowd, and time

Sure the DVD and HDMi encryption keys are now public, but I doubt a long-enough encryption key will necessarily be cracked.

Any key that is in large amounts of consumer devices will be cracked.

Maybe, but it will also get revoked by the provider and not be very useful any more

There are lots of compromised Widevine Level 1 keys out there, but Widevine license servers no longer accept them.

If the key is in hardware is isn’t quite that easy to revoke, and if it is in software it isn’t quite that difficult to crack.

All Widevine Level 1 keys are in hardware. It's one of the definitions of a Level 1 key.